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The State of the Digital Economy in the Commonwealth

image of The State of the Digital Economy in the Commonwealth
The Fourth Industrial Revolution presents significant opportunities and challenges for the Commonwealth. It has the potential to provide a significant source of new growth for all Commonwealth economies. However, because Commonwealth countries are at different stages in their economic, social and technological development, it will require innovative approaches to both policy and policy-making to narrow the digital divide, overcome the challenges and take advantage of this new age.

This first volume in the Commonwealth Connectivity Series explores some of the issues facing policy-makers in the Commonwealth. It provides policy recommendations that Commonwealth members can use to address the challenges and realise the benefits of the digital age.

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Digital Transformation in the Commonwealth: State of Play

This chapter considers global developments in the digital economy in relation to digital transformation among Commonwealth countries. It defines the digital economy as economic activities enabled by the interaction of digital technologies and physical ICT infrastructure. It discusses the structure of trade in the Commonwealth and how this is changing in the digital economy. It identifies the challenges to digital transformation faced by Commonwealth countries and proposes ways to move forward. It finds that only a few Commonwealth countries have been able to transform and participate in the digital economy, despite digitalisation expanding globally. It suggests that lower-income Commonwealth countries could leverage available digital platforms to increase trade in services.

English

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